Comments on: 10 Business Mistakes That Will Nearly Break You… Literally

By: Neil Patel

Neil Patel — Mon, 21 Jun 2010 03:22:08 +0000

Consistency is what will keep pushing you forward.

By: Neil Patel

Neil Patel — Tue, 15 Jun 2010 04:22:59 +0000

1 step back can help you take giant leaps forward.

By: ProbusinessGuy

ProbusinessGuy — Mon, 14 Jun 2010 19:19:10 +0000

I have failed more then i have succeeded. Because of that i know more then the guy who is wining right now. In the long term i should win.

By: sell textbooks

sell textbooks — Sun, 13 Jun 2010 20:31:18 +0000

Its always good to avoid mistakes but sometimes making them can be more valuable in the end if you learn a good lesson.

By: Neil Patel

Neil Patel — Wed, 05 May 2010 17:09:25 +0000

lol, yep, it’s important to know!

By: Pes patches

Pes patches — Sun, 02 May 2010 11:00:06 +0000

Best line “Do you have an idea of where you want to take your business? I hope you don’t because your vision is probably different than your customers.”

By: Neil Patel

Neil Patel — Fri, 05 Mar 2010 03:00:55 +0000

Money also alters your mindset which is why you need to be careful. When people make money, they usually end up spending more because they get use to the finer things in life. Then if money comes to a hault, breaking that finer things in life habit becomes difficult to break. It’s all a mindset you need to work out.

By: Weight Lifting Training

Weight Lifting Training — Thu, 04 Mar 2010 20:19:01 +0000

Im reading another rich dad poor dad book and number 3, and 4 dont go with what robert talks about

What side of the cashflow quadrant are you going for? Are you creating a B Business Or a S Business? Cashflow is whats important higher a person to run your business. Spend your time on somthing more important like thinking.

Money fixes problems. Cant afford healthcare money can solve that. Cant get a car. Money can solve that problem.

These are problems i have. Money will only solve them.

By: Neil Patel

Neil Patel — Sat, 27 Feb 2010 23:07:32 +0000

Focusing on one is what will allow you to let it grow and go to the next level. Good for you on realizing that now.

By: Neil Patel

Neil Patel — Sat, 27 Feb 2010 22:57:39 +0000

That’s great to hear, if you need any advice or help with them, don’t hesitate to ask.

By: Rajaram Keelar

Rajaram Keelar — Sat, 27 Feb 2010 15:13:18 +0000

Hi,
I’m an Incubation Manager working with a lot of start ups and wannabe Entrepreneurs. Your article is amustl for all the Incubatees with us and I have forwarded the same to all of them.
I shall be quoting you in all my interactions with wannabes, there’s many of them here in India off late.
Thanks
Rajaram

By: Al L.

Al L. — Fri, 26 Feb 2010 21:21:47 +0000

Again, thank you for a very helpful post. Some aspects of business development have been frustrating of late, but your posts have helped me stop a wayward tendency toward starting other projects before finishing the first.

“…no matter how dumb they may seem, they were still able to create a company that is larger than yours.”
And some times I view their existence as proof of miracles (just like my company’s, I suppose!).

By: Neil Patel

Neil Patel — Thu, 18 Feb 2010 06:57:27 +0000

Well that’s usually what happens unfortunately. Glad you learned from your mistake.

By: Startup Videos & Advice

Startup Videos & Advice — Mon, 15 Feb 2010 20:09:02 +0000

Focusing on once project is really critical. One time I found myself working on 7 other things…and soon..all of them crashed.

thanks for sharing.

By: Neil Patel

Neil Patel — Fri, 12 Feb 2010 05:48:18 +0000

Fortunately, you’re not the only one that made costly mistakes… most people reading this have. It’s just about how you relate those mistakes with you mindset.

By: Neil Patel

Neil Patel — Fri, 12 Feb 2010 05:29:50 +0000

Good planning is very important, but remember that things almost never go according to plan. Be prepared for changes that occur and the ability to adapt and overcome.

By: Neil Patel

Neil Patel — Fri, 12 Feb 2010 05:20:05 +0000

You will probably make a lot of these stupid mistakes still, but hopefully this knowledge helps you recover and move forward faster.

By: ProBusinessGuy

ProBusinessGuy — Wed, 10 Feb 2010 01:54:12 +0000

Ya i agree, screwed up tons and I found that the costly mistakes. Mabey im just a nut or somthing lol.

I just say john you must get this right and then i fail lol.

By: Raffy

Raffy — Tue, 09 Feb 2010 02:49:37 +0000

Good planning is very important. love this post. thanks for sharing.

By: Anton

Anton — Mon, 08 Feb 2010 14:11:33 +0000

I love it! I am about to start a new business with a friend and I found this article very helpful. Hopefully we will avoid the most stupidiest mistakes.

By: Neil Patel

Neil Patel — Sat, 06 Feb 2010 19:57:06 +0000

Don’t beat yourself up over since a lot of people reading this have probably done the same.

By: Neil Patel

Neil Patel — Sat, 06 Feb 2010 19:41:15 +0000

#3, you’re not understanding my point… having too much money while creating a company will lead you to making stupid mistakes… spending money you shouldn’t spend etc. Having little to no money in the beginning will allow you to expand your mind and build a foundation.
#5, hiring someone with talent will cause you to go broke really fast. You’re better of learning the skills, getting the training yourself and then hiring 2-3 people and training them up to that level. (This is obviously not an overnight process)

Of course it won’t apply to all businesses, but it does apply to most. Having business classes schools etc. is definitely a great idea!

By: Neil Patel

Neil Patel — Sat, 06 Feb 2010 19:14:33 +0000

hmm, I find that interesting and not necessarily true… you’re better off hiring particular college students who are eager to learn and work their asses off for little to no money.

By: catalin

catalin — Sat, 06 Feb 2010 18:40:05 +0000

After some failures you don’t have to see yourself as a screwup but as a more experienced person.

By: Neil Patel

Neil Patel — Sat, 06 Feb 2010 17:44:52 +0000

You should of RAN back to reality Yes, it’s all about what your readers want, anything else doesn’t really matter.

By: Neil Patel

Neil Patel — Sat, 06 Feb 2010 17:42:25 +0000

Not only does it require skills, it takes the right idea, mindset, funding, and networks to grow that big.

By: Abdulla

Abdulla — Fri, 05 Feb 2010 00:08:27 +0000

Point #3:
On the contrary, money does solve problems & lack of it causes it.
Money enable you to transform dreams to reality and speeds up the process and progress. Your example is not an accurate reference and analysis is reqyired prior to using it as references for the reasons why it longer is because you have learned from your past experience and you were trying to avoid committing the same mistakes so you were more careful thus slower.
Point #5:
I disagree with Neil on this one: “hiring talent really isn’t ideal” for the following facts:
1. The business owner may not and in most cases does not have the skill to train/guide others.
2. There are jobs that are specialized and require prior knowledge and experience combined. which will save the business error cost.
3. Your statement is applicable for some/very few businesses not the majority. not all businesses are a hamburger franchise.
A good example is a consultancy firm, how credible is a trainee? And, would you trust him/her to provide advise to others?
In general, it is easy to say this is how it’s done, but in reality it is more complicated and 10 points of don’ts and do’s will not make a business successful nor a total failure.
And that is why there are business schools, business consultants and the best of them all is opportunity and being there at the right time.

By: nakliye

nakliye — Thu, 04 Feb 2010 11:09:13 +0000

I love your perspective and insights on business – and appreciate your blog very much!I found that I screwed up tons and I found that the costly mistakes were really just costly lessons. With that perspective, I’m ok with being a screwup cuz its my education!

By: Neil Patel

Neil Patel — Thu, 04 Feb 2010 06:19:21 +0000

Yes, it’s important to analyze and measure data and obviously very important to know what data you’re measuring exactly.

By: Neil Patel

Neil Patel — Thu, 04 Feb 2010 05:42:46 +0000

Thinking is great, except for the fact that it stops you from really taking action and making it happen.